Self-Employed and Ready to Buy? This Mortgage Option Could Work for You Being self-employed comes with a ton of freedom—you set your own hours, build something that’s yours, and call the shots. But when it comes to getting approved for a mortgage? Things can get complicated fast. If you’re a freelancer, contractor, or small business […]
If you’ve ever wondered why your mortgage rate changes—or why it might go up or down when you renew—it’s largely due to decisions made by the Bank of Canada. But what exactly does the Bank of Canada do, and how does it impact your mortgage? Let’s break it down in plain English. What Is the […]
If your mortgage is coming up for renewal this year, you’re in good company. According to the Bank of Canada, about half of all Canadian mortgages are due to reset between 2024 and 2026, and 2025 is a peak year for renewals. The kicker? Most of these were originally taken out or last renewed when […]
A Purchase Plus Improvements Mortgage is a practical option for buyers considering homes that need renovations. Instead of passing on a property because it isn’t move-in ready, this program allows renovation costs to be included in the mortgage. With as little as 5% down, financing is available for up to 20% of the post-renovation value […]
In the dynamic landscape of real estate, homeowners often find themselves needing to relocate before their mortgage term concludes. In such scenarios, porting your mortgage can be a financially savvy strategy. This process allows you to transfer your existing mortgage—along with its current interest rate and terms—to a new property, potentially saving you from prepayment […]
Understanding Minimum Credit Scores for Mortgages If you’re looking to buy a home, your credit score is more important than ever. Banks have tightened their lending policies, and the minimum credit score for insured mortgages has increased from 600 to 680. This means buyers need to be financially prepared before starting their home search. Why […]